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Category Archive: Economics

Oct 02 2013

Trickle up economics

It is extraordinary how in the US, contrary to what you read about the ‘makers and takers’, it is the rich who are subsidized by everyone else Via reader Norm, I learned about this article that argues that the average American pays $6,000 in subsidies to big business.

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Sep 27 2013

Is this any way to run the world’s largest economy?

What the hell is going on in Congress? I have been (kind of) following the posturing that has been going on over the efforts to pass a continuing resolution bill by October 1. The normal budgetary process of passing the 12 appropriation bills to fund the government for the next fiscal year has long since …

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Sep 26 2013

More on cutting food stamps

Those arguing for cuts in the SNAP program point to the growth over the last few years (it now supports 47 million individuals, up from about 26 million in 2008) as a symptom of an entitlement system that is out of control that is encouraging more people to be ‘moochers’.

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Sep 25 2013

Can you guess who said this?

Can you guess who said the following? The concept of success leads me to consider so-called meritocracies and their implications. We have been taught that meritocratic institutions and societies are fair. Putting aside the reality that no system, including our own, is really entirely meritocratic, meritocracies may be fairer and more efficient than some alternatives. …

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Sep 19 2013

The greedy Walton family

The children of Sam Walton, founder of the Walmart empire, are among the richest people in the world. Walmart is notorious for paying its workers poorly and treating them badly. As this article from Bloomberg shows, they use every trick in the book to prevent paying taxes so that they keep as much of their …

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Sep 11 2013

More on how the stock market works against ordinary investors

I wrote earlier about how the stock market is rigged against small investors. Matt Taibbi provides another example. As a result of a wrongful termination suit by a former Thomson Reuters employee named Mark Rosenblum who became a whistleblower, a document has been released that shows how key economic data that is influential in predicting …

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Sep 03 2013

Why ordinary investors always lose out in the stock market

I do not directly invest in the stock market. I do not have the knowledge to do so nor sufficient interest to invest the time to study how it works to make the kinds of informed decisions that are required. Of course, my retirement money is invested by others on my behalf but that goes …

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Aug 30 2013

The ‘End Game Memo’

Greg Palast is an investigative journalist. In an article in Vice, he says that a source has given him a secret memo whose “content was so explosive, so sick and plain evil, I just couldn’t believe it.” The document that he calls the ‘End Game Memo’ reveals how top US treasury officials secretly colluded with …

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Aug 11 2013

NSA revelations may cost US companies between $22 and $35 billion

The Information Technology & Innovation Foundation has released a report where they say that the recent NSA revelations are going to cost American companies that provide cloud computing and encryption services quite a lot of money, since many international businesses may be reluctant to give their business to US companies that can be compelled to …

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Aug 10 2013

Guilty bankers don’t even have to admit guilt

I have been railing about the fact that despite the massive damage that the major banks did to ordinary people and the economy leading up to and during the recent financial crisis, not a single major bank executive was even threatened with jail time. Instead the banks were merely fined amounts that seem impressive to …

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